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Tag Archives: carlos ghosn
Nissan and Honda Sign Integration MOU!
Nissan Motor Co. (7201T. NSANY ADR) and Honda Motor Co. (NYS: HMC) have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company. In effect this will be the merger of the two companies with Honda as the stronger member so to speak given Nissan’s perilous operating results. It also raises questions about the continuance of Honda’s business ventures with General Motors.* What it does potentially do is create the world’s third largest automaker with potential annual sales of ~8-9 million, behind Toyota and struggling Volkswagen.
AutoInformed opines that as with all such complex multi-national corporate mergers, the details at the outset and more importantly in the final agreements and their implementation are key to its success. Given the twists and turns of the road and diverse corporate cultures of the participants – where there are no balance sheet entries – this is an endurance race that makes the 24 hours of Le Mans look like a 30-second TV spot. It also likely makes the venture subject to US SEC regulations, including form 4F and forward looking statements. Continue reading
Posted in auto news, car sharing, connected vehicles, economy, electric vehicles, engineering, manufacturing, marketing, milestones, mobility company, news analysis, people, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carlos ghosn, General Motors and Honda, Honda Motor Co and Nissan Motor Co integration MOU, Ken Zino, Makoto Uchida, Nissan Mitsubishi, Toshihiro Mibe, U.S. Securities and Exchange Commission Form F-4, X @KenAutoinformed
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French are Running Nissan Americas and in Japan
Christian Meunier has been named chairman, Nissan Americas, effective 1 January 2025. He replaces Jérémie Papin who has been appointed chief financial officer (CFO), Nissan Motor Co., Ltd. As chairman for Nissan Americas, Meunier will lead operations and strategy across all of North and South America as part of the company’s global business plan, The Arc. He will report to Guillaume Cartier, chief performance officer (CPO), Nissan Motor Co, Ltd. It’s the latest move at the struggling automaker whose, well, Arc is sinking.*
At the beginning of November Nissan Motor Company in Japan announced weak financial results for the six-months ended 30 September 2024. Net revenue decreased by ¥79.1 billion year-over-year (YOY) to ¥5.98 trillion yen, with consolidated operating profit decreasing ¥303.8 billion to ¥32.9B. This was a paltry operating profit margin of 0.5%. Net income was ¥19.2 billion. Global sales volumes decreased year-on-year to 1.6 million units. As a consequence Nissan revised its full year financial outlook for fiscal year 2024. The dividend was cancelled. Continue reading
Unions Protest Nissan Closure of Catalan Factories
The unions claim that in Europe there is a firm commitment to a New Green Deal, with a direct injection of one hundred billion euros and a private contribution of 250,000 million more. An important part will go to sustainable mobility. They feel that Nissan is missing an opportunity to get support for a shift towards electric vehicles, smart driving, and shared mobility. Continue reading
Groupe Renault Changes Execs – outsider Luca de Meo as CEO, Clotilde Delbos Deputy CEO
De Meo becomes the second executive to lead Renault (RNLSY) since Ghosn was arrested in Japan in 2018 and subsequently charged with financial fraud. Ghosn’s successor at Renault, Thierry Bollore, left last fall, in part it seems because he was a Ghosn protégé and after the collapse of a proposed merger with Fiat Chrysler in June that Nissan nixed. Continue reading
Nissan Blasts Ghosn as Unfit to Serve as An Executive
“The internal investigation found incontrovertible evidence of various acts of misconduct by Ghosn, including misstatement of his compensation and misappropriation of the company’s assets for his personal benefit,” Nissan said. Continue reading
SEC Charges and Settles False Financial Disclosures Against Nissan, Former CEO Carlos Ghosn, Former Director Greg Kelly
Critics no doubt will say the settlement is laughable given the amount of money involved. Continue reading
Nissan Shareholders Elect 7 Independent Directors Out of 11
The new board of directors comprises 11 individuals, seven of whom are independent outside directors. Power appears to be evenly split between Renault and Nissan despite Nissan’s and the Japanese government’s interest in asserting more control. Renault, which owns 43% of Nissan and the French government, which owns 15% of Renault, are pushing for a merger. Paper organization charts are not always how business is conducted in mega, joint venture corporations. So, it will take some time to see how this works out as the Ghosn matter proceeds through the Japanese “legal” system. Continue reading
Renault Returns the Nissan Abstinence Vote Favor
This after the French government asked for more time to study the FCA Renault merger when it learned that Nissan intended to abstain from a vote that would allow it to go forward. Continue reading
Renault Board Confirms Expenses Improperly Used by Ghosn
Several expenses incurred by RNBV for a total of ~€11 million include questionable air travel expenses for Mr. Ghosn; other expenses incurred for Mr. Ghosn; and gifts to non-profit organizations. Continue reading
Posted in litigation, news analysis, people
Tagged auto industry commentary, autoinformed.com, automotive blog, carlos ghosn, Ken Zino, Renault Nissan alliance, RNBV
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Renault Board Backtracking on Carlos Ghosn Innocence
This is a significant departure from its initial backing of Ghosn in the latest twist of an ongoing global intrigue that involves in-fighting among Alliance partners, income inequality, trade wars and corporate governance policies in France, Japan and elsewhere. Continue reading
Ghosn Fallout – Nissan Changes American Senior Management
Japanese prosecutors have accused him of hiding his compensation and shifting personal investment losses to Nissan’s books. Ghosn denying the charges claims Nissan executives who opposed closer ties to Renault went to Japanese authorities with false charges. Adding to the intrigue, Ghosn remains on the Board of Directors at al three companies. Continue reading
Ghosn to be Gone at Next Nissan Shareholders Meeting
Renault-Nissan-Mitsubishi is today the world’s largest automotive partnership, with combined sales of more than 10.6 million vehicles. Continue reading
Posted in customer satisfaction, financial results, milestones, news analysis, people
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, carlos ghosn, connected vehicles, Greg Kelly, Jean-Dominique Senard Renault Chairman, Ken Zino, new vehicle reviews, Nissan leaf, Philippe Lagayette, Renault Chief Executive Officer Thierry Bolloré, Renault Nissan Mitsubishi Alliance
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Predictably – So-Called Tokyo “Court” Secretly Prolongs Detention of Carlos Ghosn By 10 Days According to TV Asahi
Ghosn, accused of aggravated breach of trust, is facing allegations of making the car maker take on ¥1.85 billion ($16.8 million) in investment losses that allegedly were his. (See AutoInformed from last Sunday: Japanese Justice or Farce?) Continue reading
Posted in auto news, litigation, news analysis, people
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, carlos ghosn, connected vehicles, Japanese corporate governance, Japanese Justice, Ken Zino, litigation, new vehicle reviews, news, news analysis, Nissan Motors, people
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Nissan CEO Uchida Ousted
Nissan Motor Company today said that effective 1 April 2025 the Board of Directors has approved titles and areas of responsibility for the representative executive officer and executive officers. Ivan Espinosa, currently the chief planning officer, has been appointed as the representative executive officer, president, and CEO, succeeding Makoto Uchida.
Thus the Nissan soap opera continues going all the way back to the overthrowing of CEO Carlos Ghosn. The move comes as the Honda Nissan merger talks collapsed. Continue reading →